Word: stocke
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Dates: during 1990-1999
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...names go, Amazon is a perfect choice. (Not least because its ticker symbol, AMZN, is a license-plate version of how the stock has performed.) The wild Amazon River, with its limitless branches, remains an ideal metaphor for a company that now sells everything from power tools to CDs, and is eagerly looking for new areas of expansion. It's possible to argue that Bezos didn't master much more than an evolution of commerce, replacing old-fashioned stores with a centralized sales and shipping center. But even that one change, he notes, grabbing a favorite word, is "huge...
Most of the market is betting that Bezos wins and that Amazon emerges from what will surely be massive carnage among Internet retailers over the next few years. During the past two weeks, with holiday sales booming, Amazon's stock price has soared to $94. The stock has split three times. Sales are expected to crest $1 billion this year. "We firmly believe," says Salomon Smith Barney's Holly Becker, "that Wall Street will look back on these growing pains and realize management's foresight in developing one of the smartest strategies in business history...
...each of the distribution centers. Here in Coffeyville, the high walls are painted white, and the endless rows of stock shelves shine in fluorescent yellow--the better to see the billboard-size banners that festoon the aisles and walls. "Our vision," reads one, "is the world's most customer-centric company. The place where people come to find and discover anything they might want to buy online." Another banner floats above one of the aisles and lists the company's Six Core Values ("customer obsession, ownership, bias for action, frugality, high hiring bar and innovation"). It's like the Cultural...
...When the stock market-obsessed U.S. deems a profession to be too menial for its best and brightest, it imports drudge workers from abroad. At some point, teaching - once seen as noble - took on the status of low-end work, both in salary and prestige. So this week Chicago received federal clearance to become the second major city in recent years to import talent from abroad. The Windy City finds itself unable to fill at least 400 teaching vacancies each year, and it's not alone - earlier this year the Department of Labor declared a critical national labor shortage...
...advertising blitz. Rite Aid has rescheduled $2.7 billion of its debt, and before long, it should announce a deal to sell PCS. As for the underperforming, oversize stores on the West Coast, Miller insists he will rejuvenate, not unload them. Wall Street announced a measure of approval: Rite Aid stock closed at $11.50, up about $3 for the week. And with baby boomers and senior citizens fueling a boom in prescription drugs, Miller is confident he can cure Rite Aid's ills: "This is the fastest growing sector in retail." Now if he can just impose some financial discipline...